Theresa Li-Na Tang

Endorsement of the money ethic, income, and life satisfaction

The present study investigated the money ethic scale among full‐time employees, part‐time employed students, and non‐employed university students. Confirmatory factor analyses results showed that there was a good fit between the three‐factor model and research data for full‐time employees and non‐employed students and a weaker fit for part‐time employees and the whole sample. Further, factors success and evil were predictors of income for full‐time employees. Money attitudes were not related to pay satisfaction. Factor budget was associated with life satisfaction for full‐time employees and non‐employed students. Full‐time employees in this sample tended to be older, male, and have higher education than part‐time employees and students. Non‐employed students tended to have higher life satisfaction, lower protestant work ethic, less type A behavior pattern, and think more strongly that money does not represent their success, that they budget money carefully, and that money is not evil than part‐time employees.

Income, the love of money, pay comparison, and pay satisfaction

Purpose – This study aims to test a model of pay satisfaction and argue that the income‐pay satisfaction relationship depends on ones love of money and how one compares.Design/methodology/approach – The paper investigates: a direct path (income → total pay satisfaction); an indirect path (income → the love of money → pay equity comparison → total pay satisfaction) using a structural equation model (SEM) based on 210 full‐time employees; and the model across race and gender in multi‐group analyses.Findings – The paper finds that for the whole sample, there was one significant path (pay equity comparison → total pay satisfaction). Since African‐Americans (

THE LOVE OF MONEY IS THE ROOT OF ALL EVIL: PAY SATISFACTION AND CPI AS MODERATORS

32,073.15) and women (

The Love of Money, Pay Satisfaction and Academic Tenure: Professors in a Public Institution of Higher Education

32,400.58) tended to have lower income than Caucasians (

Monetary Intelligence and Behavioral Economics Across 32 Cultures: Good Apples Enjoy Good Quality of Life in Good Barrels

37,180.73) and men (

The Love of Money and Pay Level Satisfaction: Measurement and Functional Equivalence in 29 Geopolitical Entities around the World

38,287.97), respectively, income significantly increased the importance of the love of money for African‐Americans and females, but not for Caucasians and males. The love of money to pay equity comparison path was not significant. Income was not related t...

Materialism and the Bright and Dark Sides of the Financial Dream in Spain: The Positive Role of Money Attitudes—The Matthew Effect

By incorporating pay satisfaction at Level 1 and Corruption Perceptions Index (CPI) at Level 2, we investigated the relationship between the love of money and self-reported corrupt intent among 6,382 managers in 31 geopolitical entities across six continents. Our significant cross-level three-way interaction effect showed that for managers with high pay satisfaction, the intensity (slope) of the love of money to corrupt intent relationship was almost identical in high or low CPI entities but the former had the lowest magnitude of corrupt intent, whereas the latter had the highest. For those with low pay satisfaction, the slope was the steepest in high CPI entities, but was flat in the low CPI entities and the difference between the two was significant.

Finding the Lost Sheep: A Panel Study of Business Students' Intrinsic Religiosity, Machiavellianism, and Unethical Behavior Intentions

This study tests a model of pay satisfaction using a sample of 207 American professors, treats academic tenure as a moderator, and investigates the model across tenured (n = 126) and non-tenured (n = 77) professors simultaneously. The direct path examines the relationship between income and pay satisfaction, whereas the indirect path consists of income, the love of money, pay comparison, and pay satisfaction. For the whole sample, results supported the direct path in that income led to pay satisfaction. When both the direct and indirect paths were examined simultaneously, income led to low pay satisfaction. Income enhanced the love of money that was used to frame referent pay comparison that had an impact on pay satisfaction. For tenured professors, the indirect path was significant and the direct path approached significance. For non-tenured professors, the referent comparison to pay satisfaction path was significant. Our research contributes to our new insights and understanding of pay satisfaction among tenured and non-tenured professors in a public institution of higher education.

Monetary intelligence and behavioral economics : the enron effect-love of money, corporate ethical values, Corruption Perceptions Index (CPI), and dishonesty across 31 geopolitical entities

Abstract Monetary Intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the bright side of Monetary Intelligence and behavioral economics, frames money attitude in the context of pay and life satisfaction, and controls money at the macro-level (GDP per capita) and micro-level (Z income). We theorize: Managers with low love of money motive but high stewardship behavior will have high subjective well-being: pay satisfaction and quality of life. Data collected from 6586 managers in 32 cultures across six continents support our theory. Interestingly, GDP per capita is related to life satisfaction, but not to pay satisfaction. Individual income is related to both life and pay satisfaction. Neither GDP nor income is related to Happiness (money makes people happy). Our theoretical model across three GDP groups offers new discoveries: In high GDP (rich) entities, “high income” not only reduces aspirations—“Rich, Motivator, and Power,” but also promotes stewardship behavior—“Budget, Give/Donate, and Contribute” and appreciation of “Achievement.” After controlling income, we demonstrate the bright side of Monetary Intelligence: Low love of money motive but high stewardship behavior define Monetary Intelligence. “Good apples enjoy good quality of life in good barrels.” This notion adds another explanation to managers’ low magnitude of dishonesty in entities with high Corruption Perceptions Index (CPI) (risk aversion for gains of high probability) (Tang et al. 2015. doi:10.1007/s10551-015-2942-4). In low GDP (poor) entities, high income is related to poor Budgeting skills and escalated Happiness. These managers experience equal satisfaction with pay and life. We add a new vocabulary to the conversation of monetary intelligence, income, GDP, happiness, subjective well-being, good and bad apples and barrels, corruption, and behavioral ethics.